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My Asian Breakout trading Journal

  • #21
  • Dec 28, 2005 1:33am Dec 28, 2005 1:33am
Quoting traderswin
Today's Entry 28-Dec-2005

GBP/USD
Long:1.7340 SL:1.7300 TP:1.7397

USD/CHF
Short:1.3109 SL:1.3149 TP:1.3052
GBP/USD Long triggered @1.7340
USD/CHF Short triggered @ 1.3109
  • #22
  • Dec 28, 2005 1:57am Dec 28, 2005 1:57am
Quoting traderswin
GBP/USD Long triggered @1.7340
USD/CHF Short triggered @ 1.3109
GBP/USD take profit triggered @ 1.7397 P/L:+57 pips

USD/CHF SL moved to break even point.
  • #23
  • Edited 8:09am Dec 28, 2005 7:57am | Edited 8:09am
Thank again Traderwins,

You have again given me more confidence. I enter the same as yesterday and and added to my position at @1.7340 I closed at 1.7402 as my indicator showed reversal and went for a short position back down at 1.7398
Got out and closed at 1.7371 and rest at 1.7366.
I chicked out. Should have let it ride. It went all the way down to 1.7328.

Still learning.
Thanks. Your posting is like a mentor for me.
Best regards

P.S. I notice the target is lowered - not 70 pips.
How should one calculate the target ?
Thanks
Highway
  • #24
  • Dec 28, 2005 8:48am Dec 28, 2005 8:48am
Quoting highway3000
P.S. I notice the target is lowered - not 70 pips.
How should one calculate the target ?
Thanks
Highway
Highway,
My target is set at 70 pips above range high. And my entry is always high +13 pips, so target is 70-13=57 pips.

I am still studying the possibility of establishing 2 positions, with different profit target. Lock in the short term gain, and let the other ride. I will update the thread once I am comfortable with this strategy.

Traderswin
  • #25
  • Dec 28, 2005 9:31am Dec 28, 2005 9:31am
Thanks Traderswin,

Thanks for pointing out my error. I seem to be computing things wrongly these days. You have a very slow learning student.
I made also a mistake today getting out of the short trade reading the chart which was in the wrong time frame. Could have gotten more than 200 pips only with GBP/USD today. It is now down to 1.7280. Well, something to de careful in the future.

Thank Traderwin.
Have a nice day
Highway
  • #26
  • Dec 28, 2005 9:35am Dec 28, 2005 9:35am
Quoting highway3000
Thanks Traderswin,

Thanks for pointing out my error. I seem to be computing things wrongly these days. You have a very slow learning student.
I made also a mistake today getting out of the short trade reading the chart which was in the wrong time frame. Could have gotten more than 200 pips only with GBP/USD today. It is now down to 1.7280. Well, something to de careful in the future.

Thank Traderwin.
Have a nice day
Highway
No worry man, we are both learning.
  • #27
  • Edited 7:17pm Dec 28, 2005 9:44am | Edited 7:17pm
GBP/USD Short triggered @ 1.7265
  • #28
  • Dec 28, 2005 7:09pm Dec 28, 2005 7:09pm
Quoting traderswin
Today's Entry 28-Dec-2005

GBP/USD
Long:1.7340 SL:1.7300 TP:1.7397
Short:1.7265 SL:1.7305 TP:1.7208

USD/CHF
Long:1.3174 SL:1.3134 TP:1.3231
Short:1.3109 SL:1.3149 TP:1.3052
Result for 28-Dec-2005
GBP/USD
Long:1.7340 TP was triggered @ 1.7397 result:+57 pips
Short:1.7265, trade closed at 12 noon EST @1.7218 result:+47 pips

USD/CHF
Short: 1.3109 SL moved to break even, SL was triggered result:0 pip

Result for the day: +104 pips
  • #29
  • Dec 28, 2005 8:23pm Dec 28, 2005 8:23pm
I have really enjoyed your thread and congrats on your efforts. I really like a similar breakout strategy called "Big ben". It is about the same as yours on the GBPUSD.
One thought would be to sell out half of your position at a certain point, maybe breakeven, and let the rest run on.
I wish you continued success!
  • #30
  • Dec 28, 2005 11:59pm Dec 28, 2005 11:59pm
Quoting jkappelman
I have really enjoyed your thread and congrats on your efforts. I really like a similar breakout strategy called "Big ben". It is about the same as yours on the GBPUSD.
One thought would be to sell out half of your position at a certain point, maybe breakeven, and let the rest run on.
I wish you continued success!
Hi jkappelman, thanks for reading my thread. I hope you do well in the coming 2006 as well!
by the time you are comfortable, do share with me your Big ben strategy here or on your own thread.
  • #31
  • Dec 29, 2005 1:08am Dec 29, 2005 1:08am
Today's Entry 29-Dec-2005

GBP/USD
Long:1.7251 SL:1.7211 TP:1.7308
Short:1.7171 SL:1.7211 TP:1.7114

USD/CHF
Long:1.3177 SL:1.3144 TP:1.3234
Short:1.3128 SL:1.3168 TP:1.3071
  • #32
  • Dec 29, 2005 7:54am Dec 29, 2005 7:54am
GBP/USD short triggered @1.7171, SL triggered. Result :-40 pips

USD/CHF short triggered @1.3128, SL triggered. Result: -40 pips

USD/CHF Long triggered @1.3177
  • #33
  • Dec 29, 2005 8:51am Dec 29, 2005 8:51am
Quoting traderswin
GBP/USD short triggered @1.7171, SL triggered. Result :-40 pips

USD/CHF short triggered @1.3128, SL triggered. Result: -40 pips

USD/CHF Long triggered @1.3177


My MA did not cross and Stock, Step-RSI and CCI was at the extreem bottom <20 . Thus I was not in at 1.7171
Neither for CHF.
I imagine something will happen after home sales data.
Fingers crossed - waiting

Good trading
Highway
  • #34
  • Edited 9:35am Dec 29, 2005 9:10am | Edited 9:35am
Quoting highway3000
My MA did not cross and Stock, Step-RSI and CCI was at the extreem bottom <20 . Thus I was not in at 1.7171
Neither for CHF.
I imagine something will happen after home sales data.
Fingers crossed - waiting

Good trading
Highway
yup, today is not so good for the system. But what to do? I can't second guess the system rules when hit on bad days.
So, I'll take the loss now.

UK GfK Consumer Confidence was lower than expected, and GBP took a dive but reversed back shortly. Now in trading range. Interesting, though I never trade on news. I expected some gain in GBP, but too bad.
  • #35
  • Dec 29, 2005 10:00am Dec 29, 2005 10:00am
On Thursday, there was a reported drop in consumer confidence for December, but there was firm growth in mortgage lending for November

Analysis supplied by Investica Ltd


Apparently the firm growth in mortgage was more important as eco. data followed by US banks selling EUR/GBP. The pair then went back up.

I have instant comments/news from dowJones wires. Sometimes it is reliable. Other times ...???

I still feel someting is yet to come up today.
Still crossing my fingers
Highway
  • #36
  • Dec 29, 2005 5:16pm Dec 29, 2005 5:16pm
Result for 29-Dec-2005

GBP/USD
Long:1.7251 ,trade closed at 12 noon EST @1.7260 result:+9 pips
Short:1.7171, SL triggered. Result :-40 pips

USD/CHF
Long: 1.3177 SL triggered @ 1.3144, result: -33 pips
Short:1.3128 SL triggered @ 1.3168, result: -40 pips

Result for the day:-104 pips
  • #37
  • Dec 30, 2005 1:21am Dec 30, 2005 1:21am
Today's Entry 30-Dec-2005

GBP/USD
Long:1.7310 SL:1.7270 TP:1.7367
Short:1.7209 SL:1.7249 TP:1.7152

USD/CHF
Long:1.3171 SL:1.3131 TP:1.3228
Short:1.3083 SL:1.3123 TP:1.3026
  • #38
  • Dec 30, 2005 8:02am Dec 30, 2005 8:02am
GBP/USD Short triggered @ 1.7209
USD/CHF Long triggered @ 1.3171
  • #39
  • Dec 30, 2005 11:03am Dec 30, 2005 11:03am
Result for 30-Dec-2005

GBP/USD
Short:1.7209 SL moved to break even, SL was triggered. Result : 0 pips

USD/CHF
Long: 1.3171 trade closed at EST 12 noon @1.3145. Result:-26 pips

Result for the day:-26 pips
  • #40
  • Jan 3, 2006 1:17am Jan 3, 2006 1:17am
Today's Entry 03-Jan-2006

GBP/USD
Long:1.7328 SL:1.7288 TP:1.7385
Short:1.7176 SL:1.7216 TP:1.7119

USD/CHF
Long:1.3172 SL:1.3132 TP:1.3229
Short:1.3049 SL:1.3089 TP:1.2992
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